Charity Number= 1061605
Company Number: 03163754
Tralnlng and Developmenl Resource Ltd
(a company limlted by guarantee)
Report of tho Trustees and
Flnanclal Statements
For the year ended 31 July 2024

Trainlng and Development Resource Llmlted
Contents
Paga
Board of Trustee5 Report
Independent Audltors Report to the Members and Trustees
of the Charitable Company
Consolldaled Statement of Financial Activltles
14
Consolldated Balance Sheet
15
Charity Balance Sheet
16
Cash Flow Statement
17
Notes to th8 Consolldaled Flnanclal Statemenls
18-34

Training and Development Resource Llmlted
Board of Trustees Reportlng
For the year ended 31 July 2024
Company Reglstratlon Number:
03163754
Registered in England and Wales
Charlty Regl$tratlon Number:
1061605
Reg15tered Offlco:
Q1 Quorum Business Park
Benton Lane
Newcaslle upon Tyne
NE12 8EX
Board ol Trustees:
M O Grant OBE DL
R Dodd MBE
l Young
D Kilkenny
J Smllh
M Colllns
K O'Brlen
D Heaney
C Buckley
J Lamb
J Riddell
Chair
R8signed 19 December 2023
Appointed 22 Aprll 2024
Appointed 22 April 2024
Appointed 22 Aprll 2024
Company secretary:
Ll Xue
Bankers;
Lloyds Bank PIC
102 Grey Streel
Newcastle upon Tyne
NE99 1SL
Audltors;
CLA Evelyn Partners Llmited
17 Queens Lane
Newcastle upon Tyn8
NE11RN

Training and Development Resource Llmlted
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
The trustees are pleased to present their annual report together with the consolidated financial statements of Ihe
charitable company for the year ended 31 July 2024.
The flnancial statements comply wilh the Memorandum and Articles of Association and thg requirements of the
Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charilie5.' Statemenl of Recommended
Praclice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliGable
In the UK IFRS102) (effective 1 January 2015).
PUBLIC BENEFIT STATEMENT
The Trustees have referred to the guidelines contained in th8 Charity Commission's general guidance on publlc b8neflt
when reviewing the year's aims and objectives and in planning future aclivities. The charity's aims and objectives above
are reported clearly below to provide clear and demonstrable public benefit.
GOVERNING DOCUMENT
Training and Development Resource Limlted Is a registered charlty (No. 1061605). It is governed by Articles of
Assoclalion that were last revised on 21 February 2018.
TRUSTEE INDUCTION AND TRAINING
On appointment, each Trustee receives a full briefing and induction on the extensive activities of the Charily and
subsidiary. Thls includes strategy, finance, organisatlon and systems. In addltion, meetings are arranged wSth all key
staff executing th8 day-to-day activities of Training and Development Resource Limited and ils subsidiary company TDR
Tralning Ltd. There Is a particular focus on..
Obllgallons of Trustees,
The governing documents,
The operational framework,
Reserves and currenl financial posltion, Future plans and objeclives.
ACHIEVEMENTS & PERFORMANCE
In 2023124 TDR'S training intake exceeded the financial budget. In order to help support the future growth plans by
maximlslng operatlonal efficlencies, further developlng tralning facilities in ils head quarter on Quorum Business Park.
TDR has become the only Independent training org8nisation In the region to dellver all aspecis of englneerlng
apprenllceship from Levels 2 4. This is a huge selling point for the business.

Tralnlng and Development Resource Llmlted
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
AIMS AND OBJECTIVES
TDR was originally set up by the business sector in the North Easl of England and was Incorporated in 1998. The Initial
imperative was to resolve a major shortfall in young people considering a career as an apprentlC8 in the regional
englneering sector. TDR has evolved progressively into an independent, regional. not-for-profil charity that connects
learn&rs, their parents and education staff with the busines5 marketplace. TDR Training Limited, Ihe subsidiary
company, provides high quality apprenticeships while promoting science and engineerlng technology as potential career
options for young people.
TDR continuously strives for excellence and to act in the bèst interests of leamers by provlding opportunily for all to
learn new ski118 and to develop marketable expertise. TDR recognlses, promotes and benefits from incluslon and seeks
to expand the skills development and progression of individuals to ensure sufficient resource of operators, technicians,
engineers and scientists who are adequately equipped to keep pace with the latest technologies and standards. In
parallel with this approach, TDR is totally committed to safeguardlng ils clients. its procedures and outcomes are
formally reviewed and updated at Trustee meetings, where dlrectors are fully briefed and Involved with the pollcy
development and execution of this Important issue.
TDR Is commltted lo increaslng Its Impact, influence and public benefit along with Its scope and scale. The servlces
provided by TDR are underpinned by core values that mandate professionalism, continuous Improvement, a focus on
excellence and progre5slon, TDR aim lo provide employers wlth imaginative. enthusiastic, ambitious, able and
employable people who ar8 ready to enter the technology-sector workforce and add valu8 to thelr employers.
TDR'S 'Objects' as set out in the Articles of Assodation are to'.-
Promote and provlde learning, vocational educalion and trainlng to 8mployees and individuals In pursuit of employment.
Speciallse In the fields of science. engineerlng, manufacturing, commerce. enterprlse and professional seNices in
Industry.
ENSURING TDR DELIVERS THE OBJECTIVES
The Truslees meet quarterly as a Board and revlew outcomes, strategy and plans. The revlew looks at what was
achleved along wlth outcomes compared lo the plan. The overall slrateglc direction Is therefore consldered and
amend8d in the light of current and expecled circumstances. TDR have referred to the suggestions contained In the
Charltles Commission guldanc8 on Public Benefil when reviewing the aims and objectlv8S.

Tralning and Development Resource Limlted
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
FINANCIAL REVIEW
The financlal position for the year shows a group surplus of£534,503 {2023- £203.5901- The oulturn was largely as a
result of increased apprenticeship and Iraining revenue.
At the year end the overall fund balance of the group stood at £2,422.496 (2023- £1,887,993) represented In a large
part by fixed assets, with net current assets of£54.842 (2023- £87.797). The trustees have prepared income and
expenditure, balance Sheet and cash flow forecasts and have a reasonable expectation that the company has sufflcienl
resources lo continue in operational existence for a period of at18ast 12 months from the date of approving these
financial slatemenls. Further detail is given in the going concern accounting policy on page 18.
The charity does not actively fundraise and does not work wlth any ihlrd party fundraisers. TDR cornplies wlth relevant
fundraising standards and there have been no fundraising complainls In the year.
The financial statements, whlch have been prepared in accordance with the Charity SORP {FRS10212019, conform lo
current statutory requirements and comply wilh the Charity's governing documents.
RESERVES POLICY
The Trustees have revlewed the reseprfes of the Group. Thls review encompassed the nature of the Income and
expenditure streams, the needs to match variable income and fixed cornmilmenls and the nature of the reserves to
enable the Group to effectively deliver its Iwo key objectives.
The Trustees have concluded that the Group requlres a general reserve fund equatlng to approxlmalely three months of
unreslrlcled fund expenditure whlch equates lo approx. £600k.
Unreslricted funds amount5 to £2,317.295 (2023 - £1.770,3741 for the group at the end of the year. Reslrict&d funds
totalled £105,201 (2023 - £117,619). Of the unreslrlcted reserves £2,922.936 Is represented by fixed a55ets and
£625,171 is an associated secured bank loan. The free r8serves are in a delicit of £50,359 (2023 £29,822). Forecasts
show surpluses for the coming period for the group and the board inlend lo relaln these to strengthen the balance sheet
and to Increase the working capltal, bulldin9 the reserve5 UP to the desired level.
INVESTMENTS POWERS AND RESTRICTIONS
The Trustees can invest any sums or investments received by them In investments In whlch Ihey are by law authorised
lo invest money, with power from lime to time lo change to others of a Ilke nature.

Tralnlng and Development Resource Limlted
Board of Trustee8 Report (Continued)
For the year ended 31 July 2024
PLANS FOR THE FUTURE
TDR'S future plans are lo continue to make a differenc8 by creating a world-class skills pool to sustain the people's
needs of the Science, Technology. Engineering and Manufacturing {STEM) Industrie5. whilst Strategically enhancing the
engagement wilh local schoo15 and authorities and offering advice and guidance on STEM activities.
TDR Tralning has continued to improve Its performance. An increased focus on raising lh8 company's profile by utilising
soclal media, attending nelworking 8V8nts and engaging with organisation5. all with the vision of engaging wlth new
stakeholders in the reglon.
TDR contlnues to engage with new and 8XlSting organisations, with negotiatlons ongoing with significant North East
employers to set up training parlnerships that will secure TDR'S position as the leading indep8ndent training
organisation in lh8 region.
The Trustees wlll continue to work on achlevlng Its main objectives to:
Engage wlth local School and authorllles to provlde STEM Informatlon, advlce, and guldance to help people
make informed Gholc8s about their further education and career progression;
Generate a high-callbre pool of capable potential employ88s who are ready willing and able to contrlbute
poslllvely to the UK economy;
To provlde th8 best independent training facility in the North Easl for Science. Technology. Engineering and
Manufacturing (STEM) industries and ensure maximum capitalis8 on future growlh opportunlli8S;
Continually expand curriculum design and delivery model to meet employer and learner needs;
Dellver TDR Trust Awards Ceremony to recognise 8ppr8ntice achievement and employer contributlon to
training and development in the region.
TDR will contlnue to actively promote Engineering & Science as a worthwhlle career: develop Englneering &
Sclence Apprenticeship opportunlties, Scholarships and diversify the TDR Trust School Programs.

Trainlng and Development Resource Limited
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
The Trustees will continue to work on achleving its main objectives to:
Engage wth local school and authorities to provide STEM informallon. advice. and guldance lo help people
make infarmed choices about their further education and career progr8ssion',
Generate a high-calibre pool of capable potenlial employees who are ready willing and able lo contribute
P051tively to the UK economy.,
Combine the two operational sites in order to offer one-stop-shop training facility for Science, Technology,
Engineering and Manufacturing (STEM) industries;
Beller utilisatlon of the organlsational resource and ensure maximum capitalise on future growth opportunltles;
Contlnually expand curriculum deslgn and dellvery model to meet employer and reamer needs..
Deliver TDR Trust Awards Ceremony to recogni5e apprenlice achievement and 8mploy8r contribution to
tralning and development in the region.
TDR wlll contlnue to acllvely promote Engineering & Sclence as a worthwhlle career; develop Englneering &
Sclence Apprenticeship opportunitles, Scholarships and diversify the TDR Twsl School Programs.

Tralnlng and Development Resource Llmited
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
REFERENCE AND ADMINISTRATION DETAILS
Registered Charily Number
Company Number
Regislered Office
1061605
03163754
Q1 Quorum Business Park, Benton Lane. Newcastle upon Tyne, NE12 8EX
Trustees
The trustees who served the charity during the period and up to Ihe date of slgning this report were as follows.,
M O Grant OBE DL
R DcKld MBE
l Young
D Kilkenny
J Smith
M Collins
K O'Brien
D Heaney
C Buckley
J Lamb
J Riddell
Chair
Reslgned 25 April 2024
Resigned 19 December 2023
Appointed 22 April 2024
Appointed 22 April 2024
Appointed 26 April 2024
Key Management Personnel
Lxue
Chief Executlve Officer
S Atkinson
Buslness Development Director Resigned Octobèr 2024
Audltorn
In accordance wlth the company's Artlcles, a resolution proposlng that CLA Evelyn Partners Llmlted be reappolnted as
auditor of the company will be pul at a General Meetlng.

Tralnlng and Development Resource Limlted
Board of Trustees Report (Contlnued)
For the year ended 31 July 2024
STRUCTURE, GOVERNANCE & MANAGEMENT
Training and Development Resource Llmited (TDR) is governed by a Board of up lo eight Trustees. There are speclflc
selection criteria laid down regarding the qualilies required for a person lo be considered sultable. The nominatlon and
selection process involves all Trustees and is democratic and transparent. Appointments are made at the quarterly
meetings of the Board.
TDR Tralning Limited is the wholly owned subsidiary Company of TDR, The TDR Training executive team Is18d by
Chief Executive Officer. along with a senior management team. which has delegated operational respon51bility. TDR
Training Ltd employees partlclpate in an annual Performance Management process to reinforce Company ethos and
culture and set objecllves and targets for the coming year. Detailed operational budgets are eslablished, monitored and
formally reviewed by the Trustees and Chief Executive Officer supported by the Senior Management Team. During the
y6ar the Chlef Executive Offlcer and senior management team relocated the Training and Development Centre to the
Head Quarter Q1 on Quorum Business Park. Training Board meetings were organised 6 times per year.
RECRUITMENT AND APPOINTMENT OF TRUSTEES
Nomlnated Trustees are appointed at a Trustees meeting. Electlon is by majority vote, includlng any proxy votes
tendered. Trustees are appointed for a three-year term. Prior to inviting nominees, the Chair revi8W the experience base
of the exlsllng Trustees In order to then attract member5 wllh relevant and complementary skills, along wllh sector
knowledge, to the Board.

Training and Development Resource Limited
Board of Trustees Report fcontlnued)
For the year ended 31 July 2024
PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL
The Trustees consider that key management comprise the charity's Trustees and Ihe s8nior mana98m8nt team who are
in charge of directing and controlling, running and operating the charity on a day to day basis,
All Trustees 9ive their lime freely and no Trustee rec8iV8d remuneration in the year in their role as Trustee. Details of
Trustees, expenses and related paty transaclions are disclosed In note 12 to the accounts.
Salary levels of the senior management team are revIev￿d annually by the Truslees based on Sector benchmarking.
RISK MANAGEMENT
As part of the business plannlng process the Trustees consider risk at all quarterly meetings. As a result there Is a
conllnued focus on highlightlng any evolving rlsk. clarilylng the key elements lo mitigaie and then taking Ihe necessary
steps to maxlmlse the Smpa¢t of the actions agreed.
Malntaining a strong financial base is 8 key ongoing factor in minimising risk.
The Trustees have assessed the major risks to whlch the Charity Is exposed, in parlicular those relating lo the
operatlons and fln8nces of the Charlty and are satlsfied that systems are In place to miligate exposure to major rlsks.
The challenges faclng TDR are:
The perceptlon that unlversity offers the best career option for 311 high achievlng school leavers.
Adapting to changes In fundlng as a result of the apprenilceship levy.
Keeping abreast of developments. changes and contenls of apprentlceshlps and cons8quent learnlng
r8quirem8nts.
Retainlng hlgh callbre staff to ensure the Charity can contlnue to manage Its affairs to meet the levels of support
to the learner.
The impact of skllls shortage and continuing to deliver training amidsl the challenges of apprentlce recruitment..
Maximislng other Income streams.
Effectlve use of fac11511es and space.
Trustees are confident from regular revlew that these risks are managed effectively.

Training and Development Resource Llmited
Board of Trustees Report (Conllnued)
For the year ended 31 July 2024
TRUSTEES, RESPONSIBILITIES STATEMENT
The trustees are r6sponsible for preparing the Truslees. annual report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practlce}.
The law applicable to charltles in England & Wales requlres the trustees to prepare financial statements for each
financlal year which give a true and fair view of the stale of affairs of the charily and of the incoming resources and
application of resources, including the income and expenditure of the charity. In preparlng these financial statements.
the Iruslees are required to:
select suitable accounting pollcies and Ihen apply them consistently;
observe the methods and principles in the Charities SORP 2015 IFRS 102);
make judgements and estimates thal are reasonable and prudent.
slate whether applicable UK Accounting Standards have been followed, subject to any mat8rfal departures
disclosed and explained in the financial slatement5.'
prepare the financlal statements on the golng concern basis unless It is Inappropriate to presume that the charlty
will continue in operation.
The trustees are responsible for keeping adequate accounting records that dlsclose wlth reasonable accuracy at any
time the financlal posltion of the charity and enable them lo ensure that the financial statements comply wlth th8
Charitles Act 2011 They are also responslble for safeguarding the assets of the charity and hence for taklng reasonable
steps for the prevention and detection of fraud and other irregularities.
So far as each of the trustees is aware at the time the report is approved:
there is no relevant audit informatlon of which the charities audilors are unaware, and
the Iruste6s have taken all steps that they ought to have taken to make themselves aware of any relevant audlt
information and lo establish that the audllors are aware of thal Informatlon.
Thls report was approved by the truste6s 0
ned on Its behalf. by..
.Llo
M O Grant OBE DL
Chalr
10

Training and Development Resource Limited
(A company Ilmited by guarantee)
Independent Auditors, Report to the members of Tralning and Development Resource Limited
For the year ended 31 July 2024
Oplnlon
We have audited the financlal statements of Tralnlng and Development Resource Limiled (the 'ch8ritable company'l and
its subsidiary (Ihe 'group'l for the year ended 31 July 2024 which comprise the Consolidated Statement of Financial
Aclivities, Consolidated Balance Sheet. Charity Balance Sheet. the Consolidated Cash Flow Statement and notes to the
financial statements. including a summary of significant accounting policies. The financial reporting framework that has
been applied in thelr preparation is applicable law and United Kingdom Accounting Standards. includlng Financial
Reporting Slandard 102 The Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounling Practice}.
In our opinion the financial stalements:
glve a true and fair vlew of the state of the group'5 and charitable company's affalrs as at 31 July 2024. and of the
group's incoming resourGes and application of resources, including its income and expendlture, for the year then
ended.,
have been properly prepared in accordanc8 Wlth United Kingdom Generally Accept8d Accounting Practice; and
have been prepared in accordance wlth the requirements of the Companies Act 2006.
Bas15 for oplnSon
We conducted our audlt In accordance wlth Intemational Slandards on Auditlng (UK) (ISAS (UK)) and applicable law.
Our responsibillties under those standards are further described in the Auditorfs responsibilitie5 for the audit of the
financial statements sectlon of our report. We are independent of the charitable company in accordance with th8 ethical
requlrements that are relevant to our audit of the financial statements in the UK. including the FRC'S EthiGal Standard,
and we have fulfilled our other ethlcal responslbilities in accordance with these requirements. We belleve that the audlt
evidence we have obtained is sufflclent and appropriate to provlde a basis for our oplnion.
Concluslons relatlng to golng concern
We havg nothlng lo report In respect of the following matters In relation lo whlch the ISAS (UK) requlre us to report to
you where..
the Irustees. use of the golng concem basi5 of accountlng In the weparatlon of the financlal statements Is not
approprlate. or
the truslees have not disclosed in the financial statements any identlfled material uncertalnties that may cast
significant doubt about the group's or charitable company's ability to continue to adopt the going Goncern basis of
accounting for a year of at least twelve months from the date when the financial statements are authorised for Issue.
other Information
The Iruslees are responsible for the other infomiation. The other informatlon comprises the informalion included in the
trustees, annual report, other than the financial stalemenls and our auditor's report thereon. Our oplnion on the financial
statements does not cover the other infomiation and, except to the extent otherwise explicltly stated in our report, we do
not express any form of assurance conclusion thereon.

Tralning and Development Resource Limlted
(A company limlted by guarantee)
Independent Audltors, Report to the members of Training and Development Resource Llmlted (Continued)
For the year ended 31 July 2024
In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing
so, consider whether the other information is materially inconsistenl with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially mlsstated. If we idenlify such material inconsistencies or
apparent material misslat8ments, we are required to determine whether there is a material misslatemenl in the financlal
statements or a material misstatement of the olher information. If, based on Ihe work we have p8rformed, we Gonclud8
that Ihere is a materlal misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other malters prescribed by the Companles Act 2006
In our opinlon, based on the work undertaken in the course of the audit..
the Information given In the trustees, report (incorporatlng the directors, report) for the financial year for which the
financial statements are prepared is consistent with the financial stalemenls., and
the directors. report has been prepared in accordance with applicable legal requirements.
Matlars on whlch we are requlred to report by exceptlon
In the light of our knowledge and underslanding of the group and parent charitable company and Its envlronment
obtained in the course of the audit. we have not identified material misslat8menls In the dir6Ctors' report.
We have nothlng lo report In respect of the following matters In relation lo whlch the Companles Act 2006 requires us to
report to you if, in our opinion..
adequate accountlng records have not been kept by the parent charitable company, or returns ad8quate for our
audit have not been received from branches not vislted by us: or
ihe flnanclal slalemenls are nol In agreement wllh the accounting records and returns; or
certain disclosures of directors, remuneralion specified by law are not made: or
we have not recelved all the informatlon and explanations we require for our audit. or
the Iru5tees were not enlilled to prepare Ihe financial slalements in accordance with the small companies, regime
and lake advantage of the small Companies, exemptions in preparing the directors, report and from the requlrement
to prepare a strategic report.
Responslbllities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 10, the trustees (who are also the
dlrectors of the chartlable company for the purposes of company law) are responsible for the preparation of the financial
slalemenls and for being satisfied that they give 8 true and falr view. and for such Internal control as the trustees
delermlne is necessary to enable the preparatlon of financlal statements that are free from material mlsslatement,
whether due lo fraud or error.
In preparing the financial statements, the tTuslees are responsible for assessing the group'5 and parent charltable
company's abillty to continue as a going concern, disclosing. as applicable. matters related lo golng concern and using
the going concern basis of accounting unless the trustees elther Intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
12

Training and Development Resource Llmited
(A company Ilmlted by guarantee)
Independenl Auditors, Report to the members of TralnSng and Development Resource Limlted (Contlnued)
For the year ended 31 July 2024
Irregularities, including fraud, are instances of non-compllan¢e with laws and regulatlons. We design procedure5 In line
wlth our responsibilities, outlined above, lo delect material misstatemen15 in respecl of irregularities, including fraud. The
extent to which our procedures are capable of detecling irregularities, including fraud, is delailed below.
We obtained an understanding of the legal and regulatory framework applicable lo both the company Itself and th8
indusiry In whlch it operates. We identified areas of laws and regulations that could reasonably be expected to have a
material effect on the financial statements from our sector experience and through discusslon with the directors and
other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS1021 and relevant
tax legislation. We considered Ihe extent of compliance with those laws and regulations a5 part of our procedures on Ihe
related financial statements. Our audit procedures included:
confirming with the trustees and management whether they have any knowledge or suspiGlon of fraud.,
oblainlng an understandlng of the internal conlrols established to mitigate risks relaled to fraud or non-compllance
with laws and regulatlons-
assessing the risk of management override Including Identifying and testlng a sample of journal entries;
confirmation recelved from the banks to verity the balance as on the last day of the accounling year;
revlewlng mSnutes of meetlngs of those charged with govemance; and
Our audlt dld not Identlfy any key audlt malters relallng to the delectlon of irregularities Includlng fraud. However,
d8splte the audit being planned and conduct8d in accordance with ISAS (UK) there remains an unavoidable risk that
material mlsslatemenls in the financial statements may not be det8Cted owing to inherent Ilmitations of the audll, and
that by Ihelr very nature, any such Instances of fraud or irregularity Ilkely involve collu51on, forgery, Intenllonal
mlsrepresentations, or the overrlde of Internal controls.
A further descrlption of our responslbllities for the audit of the financial statements is located on Ihe Fln8ncial Reportlng
Councll's webslte at,. www.frc.org.uklauditorsresponslbillties. Thls descrlption forms part of our auditor's report.
Use of thls report
This report is made solely lo the charitable company's members, as a body, in accordance with Chapt8r 3 of Part 16 af
the Companle5 Acl 2006. Our audit work has been undertaken so that we mlght state to the ¢harltable company's
members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest
extent permllted by law, we do not accepl or assurne responslbility to anyone other than the charitable company and the
charitable company's members as a body, for our audit work, for Ihis report, or for Ihe oplnlons we have formed.
Craig Henderson (Senior Statutory Audllor)
For and on behalf of CLA Evelyn Partners Limited
13 KI￿L& 2oi£
stalutory Audltors & Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
NE1 1RN
13

Tralning and Development Resource Llmited
(A company limlted by guaranteel
Consolidated Slatement of Financlal Activltles
For the year ended 31 July 2024
Unrestrlcted
General Restrlcted
Fund
Funds
Total
2024
Total
2023
Notes
Income from:
Donations and legacles
Charitable activities
Other income
Investment income
104.800
2.791,025
3,420
8.779
104,800
2,791,025
3.420
8,779
2.268,608
2,658
661
Total income
2,908,024
2,908,024
2,271,927
Expendlture on:
Charitable activltles
2,373,521
2,373,521
2,068,337
Total expendlture
2,373,521
2,373,521
2,068,337
Net movement In funds before transfer8
534,503
534,503
203,590
Transfers
12,418
(12.418)
Nat movement In funds
546,921
(12,418) 534,503
203.590
Reconclllatlon of lunds:
Total funds brought lo￿ard
1.770.374
117,619 1.887,993
1,684,403
Total funds carrled forward
2.317,295
105,201 2,422,496
1,887.993
There were no unrecognis8d gains or losses other than the surplus for the year.
14

## **Training and Development Resource Limited** 

## **Consolidated Balance Sheet** pak **As at 31 July 2024** 0) 

|**Consolidated Balance Sheet**<br>**As at 31 July 2024**<br>pak 0)||||||
|---|---|---|---|---|---|
||**Notes**||**2024**||**2023**|
|**Fixed assets**||||||
|Tangible assets|14||2,922,936||2,394,695|
||||2,922,936||2,394,695|
|**Current assets**||||||
|Debtors|16|234,233||227,799||
|Cash at bank and in hand||573,189||378,948||
|||807,422||606,747||
|**Creditors:**amounts falling||||||
|due within one year|17|(752,580 )|(752,580 )|( 518,950 )||
|**Net current assets**|||54,842||87,797|
|**Total assets less current liabilities**|||2,977,778||2,482,492|
|**Creditors:**amounts falling due after||||||
|more than one year|18||(555,282 )|(555,282 )|( 574,499)|
|Provisions for liabilities|19||||(20,000)|
|**Net assets**|||2,422,496||1,887,993|
|**Charity Funds**||||||
|Restricted funds|21||105,201||117,619|
|Unrestricted funds|21||2,317,295||1,770,374|
|**Total funds**|||2,422,496||1,887,993|



## **Chair** 

The notes on pages 18 to 34 form part of these financial statements. 

**15** 



Tralnlng and Development Resource Llmited
Charlty Balance Sheet
As at 31 July 2024
Notes
2024
2023
Fixed assets
Tangible assets
Investments
14
15
2,449.413
2,363,532
Current assels
Oeblors
Cash at bank and In hand
2,449.414
2,363.533
16
25,820
60,633
20,252
9,355
Credltors: amounts falllng due
wlthln one year
86.453
29,607
17
{ 223.115)
(226,102)
Net current Ilabllitles
(136.662)
(196,495)
Total a850ts less current Ilabllltl85
2,312,752
2,167,038
Credltor6: amounts falllng due
In more than one year
18
(555,282)
(574,499)
Net assèts
1,757,470
1.592,539
The lund8 of the charlty..
R8Stricled funds
Unreslrlcted funds
21
21
105,201
1.652,269
117,619
1,474,920
Total charlty funds
1,757,470
1,592,539
These financial statements were approved by the Board of Trustee
are signed on their behalf by:
O Grant OBE DL
Chair
The notes on pages 18 to 34 form part of these financial statements.
16

Tralnlng and Development Resource Limited
Consolldaled Cash flow statement
For the year ended 31 July 2024
Notes
2024
2023
Cash flows from operatlng activities
N8t cash provided by operating activlties
27
834,415
527,612
Cash flows from invesllng actlvltles
Purchase of tanglble tixed assets
Interest recelved
(565,158) 122,3711
8,779
661
Nel cash provlded by Investlng activities
{ 556.379) (21,709)
Cash flows from flnanclng actlvltle8
Interest pald
Repayment of borrowlngs
(64,578) { 33.609)
(19,217) { 47,682)
Net cash used In Ilnanclng actlvltles
{ 83,795) (81,291)
Change In cash and cash equlvalents
194.241
424,612
Cash and cash equlvalents at the beglnnlng of the year
378,948 (45.664)
Cash and cash equivalents at the end of the year
573,189
378,948
Breakdown of ca8h and cash equlvalents
Cash at bank and in hand
573,189
378,948
17

Trainlng and Developmenl Resource Limlted
Notes to the financlal staternents
for the year ended 31 July 2024
Accountlng policl8s
1.1 Basls of preparation of flnancial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charili6s'.
Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 issued in Oclober 2019, the
Flnancial Reporting Slandard applicable in the United Kingdom and Republlc of Ireland (FRS 102), Ihe Charitles
Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Trainlng and Development Resource Llmited meets the definition of a public benefit und8r FRS 102. The
financial statemenls are prepared under the historical cost convention or transaction value unless Othe￿ISe
slated in the relevant accounting policy nole{s). The financial statements are prepared In Sterllng which is the
functional currency of the charity and rounded to the nearest £.
The slgnificant accounting policles applied in the preparation of these financial statements are sel out below.
These policies have been consislenlly applied to all yoars presented unless Otherwise stated.
1.2 Golng concern
In the y&ar endlng 31 July 2024. a group surplus of £534,503 was achieved. The group has a nel asset poslllon of
£2,422,496 (2023 - £1,887,993). This includes nel current assets of £54,842 {2023- £87,797).
The financlal statements have been prepared on a going concern basis, whlch means that the group and enllty is
8ble to operate for the loreseeable luture on the basls of known and projected resources. The group has an
overdraft faclllty of £100,000 In place wllh Lloyds Bank until July 2026, together with a bank loanlmortgage of
£625,171 as at 31 July 2024. Based on dlscussions with the bank. the Directors have a reasonable expectatlon
that the overdraft facility will be reviewed on an equivalenl basis al the renewal date.
The senlor management team have prepared a case cash glow forecast for the perlod endlng August 2026. This
has been used to establlsh and assure the valldity of the bu51ness as a going concern. The senior management
team have also prepared a severe downslde scenario forecast as part of Ihls assessmenl. The assumptlons in
the downside scenario forecast include the following..
Only contracted commerclal income has been recognised i.e no new commercial income despite the business
conlinulng to seek additional source of income.
No external renlal income in the period lo July 2025.
Under performance in certain aspec15 of other income activities.
Cost miligalion savings as a result of Ihe above.
Both the base case forecast, and the severe downside forecast show that the group and the company are
expected to operate withln the current overdraft facilily and will maintain Sufficient cash funds to contlnue to trade.
Consequently, th8 Trustees are confident that the group and the company will have sufficient funds lo continue to
meet Ihelr liabilities as they fall due and for at least 12 months from the date of approval of the finanGial
Statements and therefore have prepared the financial statemenls on a going concern basis.
1.3 Basls of consolidation
The group financlal statements consolidate the financial statements of the charitable company and ils sub51diary
undertaking, TDR Training Llmiled, on a line-by-line basis. A separate Slatemenl of Financial Activities for the
charity itself is nol presented because the charity has taken advantage of the exemptions afforded by section 408
of the Companies Acl 2006.
18

Tralnlng and Development Resource Llmlted
Notes to the fiDanclal slatements (Continued)
for the year ended 31 July 2024
1.4 Charitable funds
Unrestricted funds donations and other in¢orning resources recetved or generated for Ihe charltable purposes.
Unreslrlcted funds are available lo spend on activities that further any of the general objectives of the charity.
Restricted fund5 are to be used for speclllad purposes as laid down by the donor. Expenditure which meets these
criteria is identified to the fund.
1.5 Flxed assels
Tangible fixed assets are initially measured at cost and subsequenlly measured at C05t or valuatlon, net of
depreciation and any impairment losse5.
Depreciatlon Is recognlsed so as to write off the cost or valuation of assets les5 Iheir residual values over their
useful Ilve5 on the following bases:
Long leasehold land and buildings
Plant and equipment
Fixtures & fitlings
Compuler equipmenl
See Below
Straight line over 4 5 years
Straight line over 2 - 20 years
Straight line over 3 - 4 years
The galn or loss on the dlsposal of an asset Is determlned as the difference between the sale proceeds and the
carrying value of the asset and Is credited or charged to income or 8xpenditur8. Subsequent costs. including
replacement parts, are capitalised only when it 15 probable that such costs will 98n8rate future economlc beneflts.
Any replaced parts or remalning carrying amounts are the derecognised. All other costs of r8p8lrs and
malntenance are ¢harged to the Statement of Financlal Activities.
Properties whose falr value can be measured reliably are held under the revaluation rnod81 and are carried at the
revalued amount, being their fair value at the date of valuation less any subsequent accumulated deprecialSon
and subsequent Impalrment losses. The fair value of the land and bulldings is usually considered to b8 thelr
market valua.
Revaluatlon galns and losses are recognised In other comprehensive Income and accumulated equlty, except to
the extent that 2 revaluation gain reserves a revaluation loss previously recognised in profit or loss or a
revaluallon 1055 exceeds the accumulaled revaluations gains recognised in equlty, such gains and losses are
recognised In the Statement of Flnancial AGtivities.
1.6 Impairment of fixed assets
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, th8
estimated future cash flows are discounted to their present value using a pre-tax discount rat8 that reflects current
market assessments of the tlme value of money and the risks specillc lo the asset for which the estlmates of
future cash flows have not been adjusted.
1.7 Fixed asset investments
In the separate accounts of the charity. interests in subsidiarles are Initially measured at COS 8d subsequently
measured at cosl less any accumulated impairm8nt losse5. Interests in subsidiaries are assessed for impairment
at each reporting date. Any impairment losses are recognised immedlately in expenditure.
1.8 Debtors
Trade and other debtor5 are recognised at the setllement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at bank and in hand
Cash at bank and in hand Includes cash and short term highly liquid investments with a Short maturity of three
months or less from tha date of acquisition or opening of the deposil or similar account.
19

Trainlng and Development Resource Llmited
Notes to the flnanclal statement5 (Continued)
for the year ended 31 July 2024
1.10 Credltors and provlslons
Credltors and provisions are rewgnised where the charity has a present obligation resulting from a past event
Ihal will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be
measured or eslimated rellably. Creditors and provisions are nomially recognised at their 58ltlement after
allowing lor any trade discounts due.
1.11 Flnanclal Instruments
The charitable group only has financial assets and financial liabillties of a kind that qualify as basic flnancial
inslruments. Basic financial instruments are initially recognised at transaction valu8 and subsequently m8asured
al their selllement value.
1,12 Income
Income Is recognlsed when the group has entitlement to the funds. any performance condltlons attached lo the
item of income have been met, 11 is probable that the Income will be received and the amount can be measured
rellably.
Income from charllable activltles is recognised as earned, as the related SeNi￿S ar8 provided,
Income from donallons and legacles Includes core funding and fundlng of a general nature and Is recognlsed
where there Is enlitlemenl. receipt Is probable and the amount can be measured with sufflclent rellablllty.
Deferred income repr8sents amounts received for luture years and is rel8ased to Incoming r8sources in the year
for which It Is entitled.
Income from trading acllvllies and Investment income is recognised on a recelvable basls.
Government grants are recognised at fair value of the ass8t received or receivablè when there is reasonable
assurance that the grant conditlons will be met and the grants wlll be received.
A grant that speclfles performance condltlons Is recognlsed in Income when the performance conditlons are mel.
Where the grant does not specify performance conditions It is recognised in income when proceeds are recelved
or receivable. A grant received before Ihe recognition criteria are satisfied is recognised as a liabilily.
1.16 Expendllure
Expenditure Ss recognised once there Is a legal or constructive obligatlon to make a payment to a third party, il is
probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure
is classifled under the following headings:
Resources expended are included in the Statement of Flnanclal Activities on an accrual basis. excluslve of VAT
with irrecoverable VAT shown as a separate cosl line. They include-
Charitable activities include all the costs relating to activities vthere the primary alm is part of the objects of the
charity along with the associated indirect costs.
Govemance costs relate to costs incurred in compliance with the constitutional and statutory requirements of the
group.
20

Tralnlng and Development Resource Llmited
Notes to the financlal statements (Contlnuedj
for the year ended 31 July 2a24
1.17 Allocatlon ol support costs
Support cost5 are those functlons that assist th8 work of the charity bul do not directly undertake charitable
activlties. Support costs include back off costs, personnel. payroll and governance costs which support the
charity's land the group's) activities. These cosls. which have not been dlrectly apportioned, have been allocated
between cost of raising funds and expenditure on charitable activities. The bases on whlch support costs have
been allocated are set out in the support costs note.
1.18 Operating leases
An asset and corresponding Ilabillly are recognised for leasing agreements that transfer to the charlly
subslantially all of the risk5 and rewards incidenlal to ownership {'Flnance Leases.). All other leases are operating
leases.
Operaling lease5 - the group as a lessee
The group classifies the lease of properties and equlpment as operating leases. Rental charges are charged to
the statement of financial activities on a straight line basis over the period of the lease.
Rent free perlods or incentives re￿iVed for enterlng into an operatinglgase are accounted for as a reduction to
the expense and are recognised on a straight line basis over the lease term.
Operafing18ases- the group as 8 lessor
Rental income from operating leases is recognised on a stralght lino basis over Ihe t8rm of th8 lease.
1.19 Crltlcal accountlng estimates and areas of Judgement
In Ihe application of the group's accounting policies, the trustees are required to make ludgemenls, estimate5 and
assurnpllons about the carrylng amount of assets and liabililies that are not readily apparent from other sources.
The eslimates and associated assumptions are based on historlcal experience and other factors thal are
consldered to be relevant. Actual results m8y dlffer from these estimates.
The estimates and undarlying assumptions are reviewed on an ongoing basis. Revlsions lo accounting esllmates
are recognised in the period In whlch the eslimate is revised where the revision affects only that period, or in the
period of the revlslon and future periods where the revision affpcts bolh current and future periods.
The Trustees consider that the valuatlon of land and bulldings to b8 the princlpal ludgemental areas In these
accounts. Long leasehold land and buSldings are carried on the balance sheet at fair value. The Trust888
periodically engage wilh exlernal valuation specialists to ensure that valualions used are up to date and in cases
where they consider market factors may indicate material changes in value.
21

Tralning and Development Resource Llmlted
Notes to the flnanclal statements fcontinuedj
for the year ended 31 July 2024
Company structure
The company is limited by guarantee. Every member of the company undertakes to contribute to the assets if the
ompany is wound up while helshe is a member or within on8 year of ceasing to be a member, such amounl as
may be required not exceeding £1.
Comparatlve Statoment of Financlal Actlvltles
Unrestricted
General Restrlcted
Fund
Funds
Total
2023
Total
2022
Not08
Income from:
DonalSons and legacies
Charitable ecllvitles
Other Income
Invéstment income
211,344
1,866,845
13,556
2,268,608
2.658
661
2,268,608
2,658
661
Total Income
2,271,927
2,271,927
2,091.745
Expenditure on:
Charitable acllvities
2.068,337
2.068,337
1,748,029
Total expendlture
2,068,337
2.068,337
1,748,029
Net movement In funds bèfore transfers
203.590
203,590
343,716
Transfers
Net movement In fund8
203,590
203,590
343,716
Reconclliatlon of fund5:
Total funds brought forward
1.566,784
117,619 1,684.403
1,340,687
Total funds carrled forward
1,770,374
117,619 1,887,993
1,684,403
22

Tralning and Development Resource Llmited
Notes to the flnancial statements (Contlnuedj
for the year ended 31 July 2024
Donatlons
Unrestricted
funds
Restrlcted
funds
Total
2024
Total
2023
Donations and gifts
104,800
104,800
104.800
104,800
Charitable actlvltlès Income analysls
Unrestricted
fund5
Restrlcted
funds
Total
2024
Total
2023
Provlslon of englneerlng and manufacturing tralnlng
Government grants
2,625,743
165,282
2,625,743 2,268,608
165,282
2,791.025
2,791,025 2,268,608
other Income
Unre8trlcted
funds
Restrlcted
funds
Total
2024
Total
2023
Commercial income
3,420
3,420
2,658
3.420
3.420
2,658
Investment Income
Unrestrlcted
funds
R05trlcted
funds
Total
2024
Total
2023
Bank Interest received
8,779
8,779
661
8.779
8,779
661
23

Training and Development Resource Limlted
Notes to the flnanclal statements (Conllnuedj
for the year endod 31 July 2024
Net Income from tradlng actlvlty of subsldiary companies and assoclate company
The charity has a wholly owned subsidlary which is registered in England and Wales. TDR Trainlng Limited.
TDR Trainlng Limited
A summary of the trading results is shown below. Audited financial statements will be f(led with the Registrar of
Companies.
Proflt & loss account
2024
2023
Turnover and other income
Cost of sales and admlnistration expenses
3,073,483 2,271,926
(2,616.152 )12,132,511)
Net proflt
457,331
139,415
A summary of the Balance Sheet Is shown below:
Flxed assets
Current assets
Current liabilitles
461,282
31,163
838.812
697,640
(647,309)1413.349)
Net assets
652,785
315,454
24

Tralnlng and Development Resource Limited
Notes to the flnanclal statements (Continuedj
for the year ended 31 July 2024
Expendllure on charltablo activltles
Dlrect costs
Total
2024
Total
2023
staff costs
College costs
Direct course costs
Travel and subsislence
Premises costs
Office expenses
IT costs
Marketing
Irrecoverable VAT
Flnance costs
other expenses
1,310,680 1,130,794
307,341
326,139
5,982
12.406
9,352
25,559
69,329
8,026
39.491
4,647
101,297
11,385
12,188
23,958
54.657
18,247
119,906
1,858,362 1,733,022
9.2 Support costs
2024
2023
Depreciation
Pr8mises costs
Irrecoverable VAT
Interest payab18
Taxatlon
Governance costs (note 9.3)
36,917
175,226
145,348
64,578
78,000
15,090
48,859
180,016
32,311
33,309
22,644
18.176
515,159
335,315
Total charltable expendlture
2,373,521 2,068.337
Governance
2024
2023
Audit fees
Legal & professlonal fees
15,000
90
15,000
3,176
15,090
18.176
25

## **Training and Development Resource Limited** 

## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 July 2024** 

## **10. Net income/expenditure for the year** 

The group surplus/(deficit) is stated after charging/(crediting) 

|The group surplus/(deficit) is stated after charging/(crediting)|||
|---|---|---|
||**2024**|**2023**|
||£|£|
|Depreciation - owned assets|36,917|48,859|



## **11. Auditors remuneration** 

The auditor's remuneration amounts to an audit fee of £15,000 (2023 - £14,500) and fees for non-audit services of £20,114 (2023 - £18,888). 

12. Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel 

## **Total salary costs analysed by:** 

|**Total salary costs analysed by:**|||
|---|---|---|
||**2024**|**2023**|
||£|£|
|Wages and salaries|1,089,513|963,324|
|National insurance contributions|107,816|96,450|
|Pension contributions|113,350|92,920|
||1,310,679|1,152,694|



The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows: 

|The number of employees who received total employee benefits (excluding employer pension costs) of more than<br>£60,000 is as follows:|The number of employees who received total employee benefits (excluding employer pension costs) of more than<br>£60,000 is as follows:|The number of employees who received total employee benefits (excluding employer pension costs) of more than|The number of employees who received total employee benefits (excluding employer pension costs) of more than|
|---|---|---|---|
|||**2024**|**2023**|
|||**No.**|**No.**|
|£60,001 - £70,000|£60,001 - £70,000|**1**|1|



No trustee received any remuneration or reimbursement of expenses (20223- £nil). 

The key management personnel of the parent charity are detailed in the legal and administrative information. The total employee benefits of the key management personnel of the parent charity were £90,102 (2023 - £131,683). 

The average headcount of persons employed by the group (including casual and part time) during the year was: 

||**2024**|**2023**|
|---|---|---|
||**No.**|**No.**|
|Directors of the Charity or trading subsidiary|**1**|2|
|(paid) Directors of the Charity (unpaid)|9|7|
|Staff|31|36|
||41|45|



**26** 



Training and Development Resource Llmited
Notes to the flnanclal statements (Contlnued)
for the year ended 31 July 2024
13.
Intangible flxed assets
Group
Negatlve goodwlll
Cost or valualion
Al 1 August 2023 and 31 July 2024
{ 39,999)
Amortisation and Impalrment
Al 1 August 2023
Charge for the year
{ 39,999 )
At 31 July 2024
(39.999)
Net book value
At 31 July 2024
At 31 July 2023
The charily had no inlangible assets in the current or prlor year.
Amounts recognised net income and expendilure for the year In respect of n8g8tlv8 goodwlll Gomprise the
amortlsation charge and are included In support costs.
14.
Tangible flxed assets
Group
Long leasehold
Land & Bulldlngs
Plant &
Equlpment
Flxtures &
Flttlngs
Computer
Equlpment
Total
Cost
At 1 Augusl 2023
Additions
2,200,000
245,618
9,250
333,878
319,540
3,720
2,546,848
565,158
At 31 July 2023
2,445.618
9,250
653,418
3,720
3,112,006
Depreclatlon
At 1 August 2023
Charge for the year
9,250
139.183
36,917
3,720
152,153
39,917
At 31 July 2024
9,250
176,100
3.720
201,311
Net book value
At31 July2024
2,445.618
477.318
2,922,936
At 31 July 2023
2,200.000
194,695
2,394,695
27

Tralnlng and Development Resource Llmited
Notes to the financlal statements (Continued)
for the year ended 31 July 2024
14. Tangible flxed assets
Charlty
Long leasehold land
and buildings
Plant and
èqulpment
Fixtures &
fittings
Computers
Total
Cost
At 1 August 2023
Additions
2.200,000
9.250
287,594
110,218
3.720
2,500,564
110,218
At 31 July 2023
2,200.000
9,250
397,812
3,720
2,610,782
Depreclatlon
At 1 Augus12022
Charge for the year
9,250
124,062
24.337
3,720
137,032
24,337
At 31 July 2024
9,250
148,399
3.720
161.369
Net book value
At 31 July 2024
2,200,000
249,413
2,449,413
At 31 July 2023
2,200,000
163,532
2,363,532
All tangible flxed assets are held for charltable purposes.
The long leasehold land and bulldings were fomially valued In January 2023 by Avlson Young al an open market
value of £2.200,000. Trustees have assessed at the 31 July 2024 and consldered that thls valuation rernalns
appropriate.
If the propety was held under hlstodcal cos( it would be Included at a net book value of £1,001,130 (2023
£1.105,130).
28

Tralnlng and Development Resource Llmited
Notes to the flnancial statements (Contlnuod)
for the year ended 31 July 2024
15. Investments
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Investment in wholly owned subsldlary
companles
TDR Trainlng Limited
Total investments
18.
Debtor6
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Trade d8btors
Prepayments and accrued Income
Other debtor5
190,843
22,833
20,557
185,570
26,271
15,958
180
10,081
15,559
8.409
11,843
234,233
227.799
25,820
20,252
17.
CredltoY8: amounts falllng due wlthln one year
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Bank loans
Trade credltors
Amounts due to fellow group undertaklngs
Corporation lax payable
Other taxation and social security
Olher creditors
Accruals and deferred income
20
69.889
144,471
69,889
84,260
69,889
8,543
117,843
69,889
9,473
120,500
78,000
25.954
74,997
359,269
22,644
29,275
64.764
248,118
26,840
26,240
752,580
518,950
223,115
226,102
18.
Credltors: amounts falling due after one year
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Bank loans
555,282
574,499
555,282
574,499
555.282
574.499
555,282
574,499
29

Trainlng and Development ResourGe Llmited
Notes to the financlal staternents fcontlnued)
for the year ended 31 July 2024
19.
Provlslons for Ilabllitles
A provlsion was In place for Ihe year end8d 31 July 2023 and related to potential amounts owgd back lo HMRC
with respect to CJRS amounts received In previous years. As at 31 July 2024 this matter had been resolv8d.
20. Borrowlngs
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank108ns
625.171
644.388
625.171
644,388
625.171
644,388
625,171
644.388
Payable withln one year
Payable after one year
69,889
555,282
69.889
574,499
69,889
555.282
69,889
574,499
Amounts Included above which fall due after five years:
Payablo by instalments
202.847
272,736
202,847
272,736
The bank 108ns are secured by a flrst legal charge on the ¢harSly's long leasehold land and bulldlngs at Q1
Quorum Buslness Park. They are also secured on an unllmited debenture from the charlty and an unllmited
debenture and unllmlted guarantee from TDR Training Limited. the charlly's subsidiary undertaklng.
The bank loans bear inl8rest al rates 4.19°A and 4.25% and are repayable over 20 years In monthly instalments.
30

Training and Development Resaurcè LSmited
Notes to the flnanclal statements (Contlnued)
for the year ended 31 July 2Q24
21. Statement of funds
ort
ear ended 31 Ju
2024
Balance at
1 August
2023
Balance at
31 July
2024
Income
Expendlture Transfers
Unrestrlcted funds
General fund
1,770,374 2,908.024
(2,373.521 )
12.418 2,317,295
Total unrestrlct8d funds
1,770.374 2.908,024
(2,373,521 )
12,418 2,317,295
Restrlcted funds
The Ron Dodd Scholarshlp Fund
Sponsorship Trust Acllvltles
97.919
19,700
97,919
7,282
(12,418)
Total restrlcted funds
117,619
(12,418 J 105,201
Total funds
1,887,993 2,908,024
(2,373.521 )
2,422,496
For
ear ende
Balance at
1 August
2022
8alance at
31 July
2023
Income
Expendlturè Trangfers
Unre5trlcled funds
General fund
1,566,784 2,271.927
{ 2,068,337)
1,770,374
Tolal unrestrlcted funds
1,566,784 2,271,927
(2.068,337)
1,770.374
Restrlcled funds
Th8 Ron Dodd Scholarship Fund
Sponsorship Trust Activities
97,919
19.700
97,919
19,700
Tofal restricted funds
117,619
117,619
Total funds
1.684,403 2,271,927
(2,068,337)
1,887.993
31

Tralnlng and Development Resource Llmited
Notes to the flnanclal statements (Contlnued)
for the year ended 31 July 2024
Restrlcted funds
The Ron Dodd MBE Scholarship Fund Funds held to provide grants to deserving students faclng barriers to
either entry or progression.
Sponsored Trust activities - Funds given to support Charities objectives.
Transfers
The transfers relate to spend on capital assets. r8Strictions Irft once the purchase Is made.
22. Analysls of net assets between funds
or the
ear ended 31 Jul 2024
Unrestrlcted Restrictèd
funds
funds
Total
Fixed assets
Nel current assets
Creditors; amounls falling du8 after more than one year
2,922,936
(50.359) 105,201
(555,282)
2,922,936
54.842
(555,282)
2.317,295
105,201 2,422,496
the
ar ended
1JI 202
Unrestricted Restrlcted
funds
funds
Total
Flxed assets
Net current assets
Credllors: amounts falling due after more than one year
Provlslons for liablllties
2,394,695
(29,822 ) 117,619
(574,499)
(20,000)
2,394,695
87,797
1574,499)
{ 20.0001
1,770,374
117,619 1,887,993
32

Tralning and Development Resource Llmited
Notes to the financlal statements (Conflnued)
for the year ended 31 July 2024
23.
Penslon
Deflned contributlon scheme
The group operates a defined contribution pension plan for its 8mployees. The amount recognised as an
expens& in the period was £113,350 (2023 - £92,920).
The defined contribution liability Is allocated to unrestricted funds.
24. Related party transactlons
The company has taken advantage of the exemptlon under FRS 102 not lo disclose transactlons wlth its 1000
owned subsldiary.
R Dodd MBE, a trustee, donaled £nil (2023- £nil) lo the charity during the year. The amount carried forward al 31
July 2024 is £97,919 (2023- £97.919).
During the year, E Dodd, brother of Irustee R Dodd MBE donated £97.800.
25. Taxatlon
The charity is exempt from tax on income and gains faillng within Section 505 of the Taxes Act 1988 or Sectlon
252 of the Taxation of Chargeable Gains Act 1992 to the exlent thal these are applied lo Its charitable objectlV8S.
No tax charges have arisen In the charily.
26. Control
The charily Is canlrolled by the Board of Truslees.
33

Tralnlng and Development Resource Llmited
Notes to the financial stat&ments (Conllnued)
for the year ended 31 July 2024
27. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2024
2023
Net Incomel(expendlture) for the roporting perlod
Adjustments for..
In18rest payable
Interest receivable
Depreciatlon
Decreasellincrease) In debtors
Increasel(Decreasel In credltors
534,503
203,590
64,578
33,609
36.917
(6.435)
213,631
48,859
48,761
193,454
Net cash (used In)Iprovlded by operatlng actlvltles
834.415
527,612
28. Analysis of changes In net debt
1Aug
2023
Cash 31 July
flows
2024
Long term cash borrowings
1644,388)
19,217 { 625,171)
Total Ilabllllles
Cash and cash equlvalents
{ 644,388)
378.948
19,217 { 625,171)
194,241 573,189
Total net debt
(265.440)
213,458 (51,982)
34